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TMI Blog2017 (11) TMI 1624X X X X Extracts X X X X X X X X Extracts X X X X ..... g Officer to redo the assessment in terms of the law enunciated in the case of Citizen Co-operative Society’s case [2017 (8) TMI 536 - SUPREME COURT] wherein pronounced what is required to be noticed by the Assessing Officer for allowing the deduction under Section 80P(2)(a)(i), is firstly that the activities of the assessee is catering to two distinct categories of people namely resident/ordinary ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ssee is a Multipurpose Co-operative Society registered under the Karnataka State Co-operative Societies Act. For the assessment year 2009-2010, the return filed by the assessee was processed under Section 143-(1) of the Income Tax Act, 1961 (for short the Act ) and the case was selected for scrutiny and thereafter the assessment was concluded disallowing the deduction under Section 80P(2)(a)(i) o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r the orders under challenge suffer from infirmities in considering the fact that the Income Tax Act, 1961 does not define the word Co-operative Bank and it states that the Co-operative Bank will have meaning as assigned in Banking Regulation Act, 1949? iv) Whether the appellant multipurpose Co- operative society falls within the definition of the Primary Agricultural Credit Co-operative Societ ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... under Section 80P(2)(a)(i), is firstly that the activities of the assessee is catering to two distinct categories of people namely resident/ordinary members or the nominal members. Secondly, whether the activities of the assessee comes within the ambit of co- operative society. These are the findings of fact which requires to be adjudicated by the Assessing Officer in terms of the judgment of the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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